Shareholders Update San Marcos, TX, June 03, 2021
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Posted On: 06/03/2021 6:24:12 PM
Shareholders Update
San Marcos, TX, June 03, 2021 (GLOBE NEWSWIRE)
Quantum Materials Corp (QTMM) (“Quantum” or the “Company”), a leading American nanomaterial and cadmium free quantum dot producer and product company, is issuing this release to provide shareholder and investors with information regarding the Company and in light of the 10 trading day order of suspension issued by the Securities and Exchange Commission (the “Commission”) on May 12, 2021 due to a lack of current information as a result of the failure to file certain periodic reports under the Company’s reporting obligations with the Commission. The trading halt, which commenced at 9:30am on May 13, 2021 and terminated at 11:59pm on May 26, 2021, has resulted in the Company’s shares no longer being quoted or traded on the Pink Tier operated by the OTC Markets Group, Inc. At this time, no firm is making a market in the Company’s common stock on OTC Link, and the OTC Markets Group Inc. has discontinued the display of quotes on the OTC Markets site. The shares can now only be located and traded on the Expert Market, which is a private market to serve broker-dealer pricing and best execution needs in securities that are restricted from public quoting or trading.
The Commission also has issued an order instituting administrative proceedings to determine whether it is necessary to revoke the Company’s registration under the Securities Exchange Act of 1934. The Company had previously received correspondence from the Commission in December 2020 related to the delinquency of it filing obligations and had proposed a plan to regain compliance with its reporting obligations. Unfortunately, the Company was unable to meet its proposed plan and currently remains delinquent with respect to its filing obligations.
The Company has retained securities counsel who have communicated with the SEC and is exploring the most efficient way that it can once again become a current reporting company with the Commission.
Quantum Materials Corp CEO Stephen Squires stated, “providing the public with current and complete information regarding the Company and its business and operations, and allowing our shareholders to trade the Company’s common stock, is a priority for me and management, and existing shareholders can be assured that the expedient resumption of reporting and trading is of the utmost importance to us.”
"The Company intends to work diligently with its advisors to prepare the required financial and other information needed to address the SEC issue. Concurrently, we are also continuing work on the development and commercialization of our quantum dot enabled products and technologies with particular focus on point of care testing solutions, solar and anti-counterfeiting. We are also continuing our efforts on the deployment of our QMC HeathID App while our R&D team are fully engaged pushing the boundaries of our nano-materials.”
About Quantum Materials Corp
At Quantum Materials Corp, our scientists and engineers believe in the power of innovation. Our goal, whether its applied research into quantum materials, the development of advanced digital platforms, or creating new tools for personal health, is to find inspiration in discovering new solutions to build a better future for all. Quantum Materials is pioneering unique solutions in the area of quantum dot fabrication, quantum tagging, digital trust systems, and most recently, in the development of QMC HealthID™. Our team comprises experts in the areas of quantum materials, nanotechnology, health diagnostics, therapeutic health, digital platforms, advanced logistics, and anti-counterfeiting. As a company, we believe in collaboration. We find that innovation begins with the spark of a new insight that is rigorously pursued in a collegial and interdisciplinary environment. Bringing breakthrough ideas to life and forging new solutions which inspires our work is our continual goal. For more information, visit Quantum Materials Corp at www.quantummaterialscorp.com
https://www.globenewswire.com/news-release/20...pdate.html
San Marcos, TX, June 03, 2021 (GLOBE NEWSWIRE)
Quantum Materials Corp (QTMM) (“Quantum” or the “Company”), a leading American nanomaterial and cadmium free quantum dot producer and product company, is issuing this release to provide shareholder and investors with information regarding the Company and in light of the 10 trading day order of suspension issued by the Securities and Exchange Commission (the “Commission”) on May 12, 2021 due to a lack of current information as a result of the failure to file certain periodic reports under the Company’s reporting obligations with the Commission. The trading halt, which commenced at 9:30am on May 13, 2021 and terminated at 11:59pm on May 26, 2021, has resulted in the Company’s shares no longer being quoted or traded on the Pink Tier operated by the OTC Markets Group, Inc. At this time, no firm is making a market in the Company’s common stock on OTC Link, and the OTC Markets Group Inc. has discontinued the display of quotes on the OTC Markets site. The shares can now only be located and traded on the Expert Market, which is a private market to serve broker-dealer pricing and best execution needs in securities that are restricted from public quoting or trading.
The Commission also has issued an order instituting administrative proceedings to determine whether it is necessary to revoke the Company’s registration under the Securities Exchange Act of 1934. The Company had previously received correspondence from the Commission in December 2020 related to the delinquency of it filing obligations and had proposed a plan to regain compliance with its reporting obligations. Unfortunately, the Company was unable to meet its proposed plan and currently remains delinquent with respect to its filing obligations.
The Company has retained securities counsel who have communicated with the SEC and is exploring the most efficient way that it can once again become a current reporting company with the Commission.
Quantum Materials Corp CEO Stephen Squires stated, “providing the public with current and complete information regarding the Company and its business and operations, and allowing our shareholders to trade the Company’s common stock, is a priority for me and management, and existing shareholders can be assured that the expedient resumption of reporting and trading is of the utmost importance to us.”
"The Company intends to work diligently with its advisors to prepare the required financial and other information needed to address the SEC issue. Concurrently, we are also continuing work on the development and commercialization of our quantum dot enabled products and technologies with particular focus on point of care testing solutions, solar and anti-counterfeiting. We are also continuing our efforts on the deployment of our QMC HeathID App while our R&D team are fully engaged pushing the boundaries of our nano-materials.”
About Quantum Materials Corp
At Quantum Materials Corp, our scientists and engineers believe in the power of innovation. Our goal, whether its applied research into quantum materials, the development of advanced digital platforms, or creating new tools for personal health, is to find inspiration in discovering new solutions to build a better future for all. Quantum Materials is pioneering unique solutions in the area of quantum dot fabrication, quantum tagging, digital trust systems, and most recently, in the development of QMC HealthID™. Our team comprises experts in the areas of quantum materials, nanotechnology, health diagnostics, therapeutic health, digital platforms, advanced logistics, and anti-counterfeiting. As a company, we believe in collaboration. We find that innovation begins with the spark of a new insight that is rigorously pursued in a collegial and interdisciplinary environment. Bringing breakthrough ideas to life and forging new solutions which inspires our work is our continual goal. For more information, visit Quantum Materials Corp at www.quantummaterialscorp.com
https://www.globenewswire.com/news-release/20...pdate.html
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